Why Do Estimates of the EMU Effect On Trade Vary so Much?
Andrew Rose ()
No 11532, CEPR Discussion Papers from C.E.P.R. Discussion Papers
Larger data sets, with more countries and a longer span of time, exhibit systematically larger effects of European monetary union on trade. I establish this stylized fact with meta-analysis and confirm it by estimating a plain-vanilla gravity model. I then explain this finding by examining systematic biases in "multilateral resistance to trade" manifest in time-varying country fixed effects; bias grows as the sample is truncated by dropping small poor countries.
Keywords: common; country; currency; exports; Gravity; meta; monetary; panel; span; union (search for similar items in EconPapers)
JEL-codes: F14 F33 (search for similar items in EconPapers)
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Journal Article: Why do Estimates of the EMU Effect on Trade Vary so Much? (2017)
Working Paper: Why Do Estimates of the EMU Effect On Trade Vary so Much? (2016)
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